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Current Interest
Rates
We have a variety of
attractive floating and fixed interest rates. The interest
rates are determined based on the type of loan and the
collateral securing it. When we utilize a U.S. Small Business
Administration guarantee to supplement our collateral, we may
be able to offer you a
lower interest rate.
Floating Interest Rates:
Our floating interest rates vary from Prime Rate to
Prime Rate + 2.75%. During the term of your loan, the
rate would adjust on a monthly basis as the Prime Rate
changes.
Fixed Interest Rates:
Most of our loans have fixed interest rates because they are
very competitive. Match the reason for your loan with the interest rates
below:
|
Loan Purpose |
Repayment Term |
Current Interest
Rates |
|
Working Capital |
3 to 5 Years |
3 Years -
5.15% - 6.15% |
|
5 Years -
5.70% - 6.70% |
| |
Equipment Acquisition
or
Refinance |
5 to 10 Years |
5 Years -
5.70% - 6.70% |
|
7 Years -
6.01% - 7.01% |
|
10 Years -
6.46% - 7.46% |
|
10 Year 504-
6.36% |
|
|
|
Purchase/Construct or
Refinance a Building |
20 Years |
10 Years -
6.01% - 7.31% |
|
15 Years -
6.72% - 8.02% |
|
20 Year 504
- 6.80% |
|
|
|
Empire
Zone Loans |
Up to 15
Years |
Option of
Variable Prime
plus 1% Fixed -
Corresponding T-Bill + 400bp |
|
|
|
Prime Rate
is 5.25% |
Interest
Rates effective as of 4-28-08 |
The 504 Loan Program is the
best for a
Building Acquisition or
Construction and Equipment with a useful life of greater than
10 years.
The Loan Payment Estimator
will make the loan calculations for you.
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